Jan 11 OSUM accelerates plan to double capacity at Orion

Phase 2C will be executed concurrently with its previously announced Phase 2B expansion.

The Orion SAGD facility currently produces over 9,000 bbl/day. Phase 2B will begin steaming by the middle of this year, adding 3,000 bbl/day of production capacity. Phase 2C will begin steaming by the fourth quarter, adding 6,000 bbl/day of capacity and bringing total output to 18,000 bbl/day. Orion has regulatory approvals in place for 20,000 bbl/day.

Osum also owns the yet-undeveloped Taiga lease, which already has regulatory approvals in place for 35,000 bbl/day of production.